Tobacco giant Altria ‘in $2.75bn bid to buy Njoy’ while preparing to pull out of Juul

Altria is reported to be in advanced talks to buy e-cigarette company Njoy for around $2.75bn and plans to divest its stake in Juul Labs.

An official announcement may come as soon as the end of the week – though nothing has been finalised and talks could still fall apart, according to the Wall Street Journal.